Alpac Capital is acquiring ANN media, having reached an agreement with United Group.

Alpac Capital has extensive and significant experience in managing media and information companies at an international level, including majority ownership of one of the largest global networks, Euronews, which reaches over 1.5 billion people in more than 160 countries and broadcasts programs in 19 languages. This acquisition provides ANN with a strong platform and an owner aligned with its editorial principles, ensuring the long-term independence of these important media outlets. Alpac Capital is committed to promoting neutral journalism and fact-based reporting that adheres to the highest editorial standards, as evidenced by its ownership of Euronews, according to the statement.

United Group is a leading telecommunications and media operator in Southeast Europe, majority-owned by the global investment firm BC Partners.

In February 2026, United Group consolidated its information media operations in Bosnia and Herzegovina, Croatia, Montenegro, Serbia, and Slovenia under a unified independent brand, Adria News Network (“ANN”), with its own fully independent board and oversight from an Editorial Council comprised of internationally recognized media professionals. Established and award-winning brands under ANN, including N1, Nova S, Vijesti, and Danas, provide multimedia news content to a combined audience of over 16 million people and employ more than 1,000 journalists and other staff. The management model introduced at the same time has been assessed as the most effective way to protect editorial independence while ensuring the stability, transparency, and resilience of the business, in accordance with the commitments made by BC Partners and the management of United Group during 2025, the statement notes. Adria News Network operates under licenses issued within the European Union, which include guarantees of editorial independence.

Following the establishment of ANN, United Group received multiple offers from parties interested in acquiring these media outlets.

It is added that Alpac Capital was selected because it offered the highest value while simultaneously meeting the governance and independence principles established from the outset. The share purchase agreement includes contractual mechanisms for protection that preserve the editorial and operational independence of ANN, clearly delineate editorial and commercial interests, and maintain an independent external advisory body.

United Group remains focused on implementing its strategy in key EU markets, enhancing the growth of its telecommunications and media businesses, and creating long-term value for all stakeholders. Strong results in the first quarter further confirm the Group's continuous growth and value creation.

A spokesperson for United Group stated:

“This transaction represents the realization of a clear goal set by the Group during 2025 - ensuring the long-term independence of our information media outlets. Upon completion of the transaction, United Group will fully focus on creating value for all stakeholders through its telecommunications, media, and technology activities in European markets.”

A spokesperson for Alpac Capital stated:

“ANN represents an important addition to our media portfolio, in which we will continue to invest to ensure growth and development. At Alpac, we believe in neutral and fact-based independent journalism, alongside stable and sustainable business practices and financial results. These are not empty words – they are confirmed daily by the work of our journalists, as well as by recognition from independent and credible organizations in the market. We are also proud of our open European orientation and are aware of the importance of the European Union’s expansion to the Western Balkans. This commitment will also be reflected in the editorial values and long-term development direction of ANN. Alpac is fully aware of the significance of this transaction and believes it will represent a very positive contribution to the countries in which it further invests.”

These transactions are subject to standard regulatory approvals and are expected to be completed during the second half of 2026.

Source: N1